Liabilities | Amt (Rs.) | Assets | Amt (Rs.) | |
Creditors | 48,000 | Cash in Hand | 32,000 | |
Outstanding Expenses | 12,000 | Debtors | 28,800 | |
Capital A/cs | Stock | 67,200 | ||
Anil | 2,40,000 | Furniture | 49,600 | |
Sunil | 2,40,000 | 4,80,000 | Machinery | 3,62,400 |
5,40,000 | 5,40,000 |
Answer:
Dr Partners' Capital Account Cr
Balance Sheet as at 1st April, 2018 Particulars Anil (Rs.) Sunil (Rs.) Particulars Anil (Rs.) Sunil (Rs.) To Anil - 3,200 By Balance b/d 2,40,000 2,40,000 To Balance c/d 3,20,000 3,20,000 By Sunil 3,200 - By Cash 76,800 83,200 (Balancing figure) 3,20,000 3,20,000 3,20,000 3,23,200
Working Notes 1. Average Profit = Rs. 80,000 Normal Profit = \[6,40,000\times \frac{10}{100}\,Rs.\,\,64,000\] Super Profit = Average Profit - Normal Profit = 80,000 - 64,000 =Rs. 16,000 Goodwill = \[16,000\times 2=Rs.\,32,000~\] 2. Calculation of Sacrificing as Gaining Ratio \[Anil=\frac{3}{5}-\frac{1}{2}=\frac{6-5}{10}=\frac{1}{10}\,Sacrifice\] \[Sunil=\frac{2}{5}-\frac{1}{2}=\frac{4-5}{10}=\left( \frac{1}{10} \right)\,\,Gain\] Liabilities Amt (Rs.) Assets Amt (Rs.) Creditors 48,000 Cash in Hand 1,92,000 (32,000 + 76,800 + 83,200) Outstanding Expenses 12,000 Debtors 28,800 Capitals Stock 67,200 Anil 3,20,000 Furniture 49,600 Sunil 3,20,000 6,40,000 Machinery 3,62,400 7,00,000 7,00,000
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